Thailand Real Estate Market (2023-2029) | Outlook, Size, Revenue, Trends, Growth, Share, Value, Companies, Industry, Analysis, Forecast & COVID-19 IMPACT

Topics Covered in the Thailand Real Estate Market

Thailand Real Estate Market report thoroughly covers the market by property and by type. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Thailand Real Estate Market Synopsis

The Thailand Real Estate Market refers to the buying, selling, and leasing of residential, commercial, and industrial properties in Thailand. This market is influenced by factors such as economic stability, urbanization, foreign investment, and tourism. The growth of the real estate market in Thailand can be attributed to the country`s attractiveness as a tourist destination and its economic development. Trends in property prices, regulatory changes, and demographics significantly impact this market.

According to 6Wresearch, the Thailand Real Estate Market Size is projected to grow at USD 51.98 billion and is anticipated to reach USD 65.96 billion, growing at a CAGR of 5.78% during the forecast period of 2023-2029. The country’s steady economic growth has contributed to a robust Thailand real estate market growth. A growing economy leads to increased demand for both residential and commercial properties. Also, Thailand is a popular tourist destination, and this drives demand for hospitality and short-term rental properties, especially in major tourist areas. Additionally, urbanization trends have led to a demand for residential and commercial properties in major cities. This includes commercial spaces, condominiums, and retail spaces. However, the regulatory environment in Thailand is complex, and foreign investors face restrictions on property ownership, which can impact investment decisions. Apart from this, there is a growing trend towards sustainability in the real estate sector, with a focus on energy-efficient and environmentally friendly buildings. The rise of flexible working arrangements has led to surging demand for co-working spaces. Areas with a strong tourism industry present opportunities for investment in hospitality properties and short-term rentals. The future of the Thailand real estate market will be influenced by continued economic growth, government policies, and evolving consumer preferences. 

Government policies and schemes introduced in the Thailand Real Estate Market

The government has been introducing several policies in the Thailand Real Estate Industry. For instance, Land and Building Tax Act. This act introduced a new tax on land and buildings in Thailand. It is intended to encourage efficient use of land and reduce land speculation. The Thai government has designated certain areas as SEZs to attract investment and stimulate economic growth. These zones have specific incentives for real estate development. The government introduced various programs to promote affordable housing, which involve incentives for developers to build low- and middle-income housing. Some Thai cities have embarked on initiatives to become "smart cities," leveraging technology and data to enhance urban living. This impacts real estate development, particularly in terms of incorporating smart features into properties.

COVID-19 Impact on the Market

The Thailand Real Estate Market experienced a mixed impact from the COVID-19 pandemic. Initially, there was a slowdown in property transactions and construction activities as lockdowns and economic uncertainties took hold. Many property developers faced challenges in completing ongoing projects and attracting buyers. However, the market adapted to the rise of virtual property tours and remote sales techniques. Additionally, government stimulus measures, such as reduced transfer fees and interest rates, boosted demand in some segments. The pandemic accelerated trends in remote work, leading to increased interest in suburban and rural properties. Overall, while there were short-term disruptions, the real estate market in Thailand showed resilience and adaptability, pointing to a potentially transformed landscape in the future.

Key Players in the Market

The Thailand Real Estate market is characterized by leading property developers such as Sansiri Public Company Limited, Land and Houses Public Company Limited, and Pruksa Real Estate Public Company Limited. These companies have a strong presence in residential and commercial real estate development across Thailand.

Market Analysis by Property

According to Mohit, Senior Research Analyst, at 6Wresearch, the industrial real estate sector dominates the Thailand Real Estate Market Share due to growth in e-commerce and the need for efficient supply chain management. Also, the country’s strategic location in Southeast Asia makes it a favourable destination for logistics and manufacturing industries.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Thailand Real Estate Market Outlook
• Market Size of Thailand Real Estate Market, 2022
• Forecast of Thailand Real Estate Market, 2029
• Historical Data and Forecast of Thailand Real Estate Revenues & Volume for the Period 2019 - 2029
• Thailand Real Estate Market Trend Evolution
• Thailand Real Estate Market Drivers and Challenges
• Thailand Real Estate Price Trends
• Thailand Real Estate Porter's Five Forces
• Thailand Real Estate Industry Life Cycle
• Historical Data and Forecast of Thailand Real Estate Market Revenues & Volume By Property for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Real Estate Market Revenues & Volume By Residential for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Real Estate Market Revenues & Volume By Commercial for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Real Estate Market Revenues & Volume By Industrial for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Real Estate Market Revenues & Volume By Land for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Real Estate Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Real Estate Market Revenues & Volume By Type for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Real Estate Market Revenues & Volume By Sales for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Real Estate Market Revenues & Volume By Rental for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Real Estate Market Revenues & Volume By Lease for the Period 2019 - 2029
• Thailand Real Estate Import Export Trade Statistics
• Market Opportunity Assessment By Property
• Market Opportunity Assessment By Type
• Thailand Real Estate Top Companies Market Share
• Thailand Real Estate Competitive Benchmarking By Technical and Operational Parameters
• Thailand Real Estate Company Profiles
• Thailand Real Estate Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Property

• Residential
• Commercial
• Industrial
• Land
• Others

By Type

• Sales
• Rental
• Lease